Influencer marketing is an effective and popular way to promote a brand. Spend any time at all on social media platforms like YouTube, Instagram, and TikTok, and you’ll see countless instances of people with large online followings creating content related to a wide range of products and services.
You’ll also see that the list of companies that are working with influencers continues to grow at a rapid rate. Being promoted by popular personalities isn’t just for offerings that appeal to younger audiences. Influencer marketing now crosses all boundaries and is delivering results for companies in virtually every industry.
How did this powerful form of promotion develop? How has it changed the marketing landscape? What are the benefits of influencer marketing? How is it evolving? This article answers those and other important questions.
The Evolution of Influencer Marketing
As long as there have been products and services, there has been influencer marketing. When a shopper considering two apple stands in the village market was told by a trustworthy neighbor passing by (at the request of one of the sellers), “The ones on the left are especially good,” that was influencer marketing.
They didn’t call it that, of course, but the essential elements were there:
- Multiple sellers vying for business
- A customer considering their options
- An agreement between a seller and a trustworthy expert
- The recommendation of one offering over others
Flash forward to modern times, and the same dynamic exists. However, influencer marketing is far more powerful today for several reasons, including:
The worldwide reach of social media.
Social media platforms have empowered influencers to build large audiences that can follow and engage with them from anywhere in the world.
A steady decline in traditional advertising.
Consumers no longer rely on the marketing channels that were staples in the past (print, TV, radio, etc.) and, instead, seek up-to-the-minute insights from people who have used and understand a product or service.
An increased demand for authenticity.
Audiences today are increasingly wary of companies’ claims that their offerings are superior. They want candid assessments from people who will point out benefits but also any drawbacks.
The growing investment in “what works.”
Influencer marketing success stories are everywhere today, so businesses are allocating more focus and budget to this strategy. At the same time, influencers continue to find new ways to increase the impact of their recommendations.
Influencer marketing is also more widespread today because it’s more accessible. When the modern practice first developed, brands tended to “swing for the fence,” seeking endorsements from the most prominent and influential personalities. However, companies quickly learned that influencers with smaller but still loyal audiences have something to offer. In fact, what are sometimes called micro-influencers often have closer ties with their followers, meaning their recommendations potentially carry more weight with them.
That realization significantly changed the marketing landscape. Businesses of all sizes have started engaging with influencers with audiences of all sizes to promote their offerings, often with outstanding results.
How Influencer Marketing Benefits Brands
If you’ve never worked with an influencer, you might wonder, “How exactly can this type of marketing benefit my business?” Companies promoted by content creators enjoy several advantages, including:
Brand awareness.
With one blog post, video, or livestream event, an influencer can affect how many people view a company and its offerings.
Lead generation.
The natural response to learning someone you respect recommends a product or service is to check it out and engage with the company if you like what you see.
Credibility.
In most industries and markets, people have multiple (if not several) options to choose from. The recommendation of an influencer promotes trust in the promoted brand.
Alone, any of these factors can have a significant positive effect on a company’s marketing and sales goals. Taken together, they can provide a huge boost.
Tips for Creating a Successful Influencer Marketing Campaign
Unsurprisingly, capitalizing on influencer marketing takes more than just reaching out to a personality and saying, “Will you represent our product?” It requires careful research, planning, and execution. It also typically takes time, as reputable influencers want to get to know a company and its offerings before promoting them.
If you’re considering an influencer marketing initiative, these steps can help ensure it hits the mark:
Define your goals.
Are you looking to increase brand awareness, generate leads, or drive sales? Your objectives may include all of the above and more, and there’s nothing wrong with that, but it’s essential to know what you’re after.
Identify your ideal audience.
Who do you want to reach with your campaign? Targeted outreach tends to be the most effective.
Find the right influencers.
Alignment between your brand and the person or people promoting it is essential.
Determine your budget.
How much are you willing to spend on your influencer marketing campaign?
Communicate clearly with your influencer.
Someone representing your product or service should understand what’s important to your market and know what type of content you want them to create.
Measure your results.
It’s essential to track the performance of your influencer marketing campaign so you can make adjustments as needed.
The Future of Influencer Marketing
Over the last decade or more, influencer marketing has become an essential part of the marketing mix for many companies. By partnering with influencers, brands have found they can reach a wider audience, build trust and credibility, and drive sales.
As for the future of this powerful strategy, trends within the broader discipline (“deinfluencing,” “trendjacking,” etc.) will come and go as content creators continually work to appeal to new clients, and as businesses strive to meet their marketing goals. Advances in technology (the ability of AI to create virtual influencers, for example) will also shape influencer marketing. However, one thing is clear: Recommendations from respected personalities will continue to create brand awareness and affect consumer preferences.
Working with an experienced marketing agency like The Creative Alliance is an excellent way to maximize the positive impact of your influencer relationships. To learn about how we can help you achieve your marketing and sales goals, contact TCA today.